Summary
Quick Facts: Insurance Underwriters | |
---|---|
$59,290 per year
$28.51 per hour |
|
Bachelor’s degree | |
None | |
Moderate-term on-the-job training | |
101,800 | |
6% (Slower than average) | |
6,000 |
What Insurance Underwriters Do
Insurance underwriters decide whether to provide insurance and under what terms. They evaluate insurance applications and determine coverage amounts and premiums.
Work Environment
Insurance underwriters work indoors in comfortable offices. Most work full time.
How to Become an Insurance Underwriter
Employers prefer to hire candidates who have a bachelor’s degree. However, insurance-related work experience and strong computer skills may be enough. Certification is necessary for advancement to senior underwriter and underwriter manager positions.
Pay
The median annual wage of insurance underwriters was $59,290 in May 2010.
Job Outlook
Employment of insurance underwriters is expected to increase 6 percent from 2010 to 2020, slower than the average for all occupations. New types of automated underwriting software allow workers to process applications more quickly than before, reducing the need for underwriters.
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O*NET
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Contacts for More Information
Learn more about insurance underwriters by contacting these additional resources.